Business
EFSA approves Kellogg’s revised bid to acquire Bisco Misr at LE86.36/share
December 21, 2014
EFSA approves Kellogg’s revised bid to acquire Bisco Misr at LE86.36/share
The Egyptian Financial Supervisory Authority (EFSA) approved Kellogg’s revised bid to acquire Bisco Misr at EGP86.36/share, 2.008% over Abraaj’s bid…
Amer Group in deal with Saudi mall co for theme park
December 21, 2014
Amer Group in deal with Saudi mall co for theme park
Amer Group has signed a deal with a Saudi entertainment and shopping malls giant Othaim Markets for the establishment of…
Egypt’s GASC buys 240,000 T French wheat, 60,000 T Russian wheat
December 20, 2014
Egypt’s GASC buys 240,000 T French wheat, 60,000 T Russian wheat
Egypt's state grain buyer, the General Authority for Supply Commodities (GASC), said on Saturday it had bought 300,000 tonnes of…
Expert: Tourism sector in Red Sea looses $0.5 billion monthly due to Russian tourism crisis
December 20, 2014
Expert: Tourism sector in Red Sea looses $0.5 billion monthly due to Russian tourism crisis
Russian tourism to Red Sea resorts has dropped by 50 percent over the past few weeks following a decline in…
Minister: Fitch’s upgrade to Egypt’s credit rating helps attract investments
December 20, 2014
Minister: Fitch’s upgrade to Egypt’s credit rating helps attract investments
Finance Minister Hany Qadry Dimian considers Fitch Ratings' decision to upgrade its evaluation of the Egyptian economy as an important…
World Bank: Syria and IS crises cost the Middle East $35 bn
December 19, 2014
World Bank: Syria and IS crises cost the Middle East $35 bn
In a study conducted for Egypt, Jordan, Lebanon, Syria, Iraq and Turkey on the economic impact of the war in…
Traders: Egypt’s EGAS has tendered for at least 48 LNG cargoes
December 19, 2014
Traders: Egypt’s EGAS has tendered for at least 48 LNG cargoes
Egypt's state-owned gas company EGAS has tendered to buy at least 48 cargoes of liquefied natural gas (LNG) for delivery…
Egypt’s market regains $1.58 bn of previous 2-day losses, EGX30 Index soars 3.4%
December 18, 2014
Egypt’s market regains $1.58 bn of previous 2-day losses, EGX30 Index soars 3.4%
Egyptian shares have recovered during Thursday's session part of their large losses from the previous two days, following the Arab…
Egyptian pound steady on official market, stronger on black market
December 18, 2014
Egyptian pound steady on official market, stronger on black market
The Egyptian pound was unchanged at a central bank dollar sale on Thursday and stronger on the unofficial market after…
Egypt turns to protectionism for automotive batteries
December 18, 2014
Egypt turns to protectionism for automotive batteries
Egypt has decided to begin protectionist measures to face a sudden rise in automotive batteries imports in a bid to…